Fed holds rates as projections point to 2026 hike (opens in new tab)

The Federal Reserve kept its benchmark federal funds rate at 3.50% to 3.75% on Wednesday, in Kevin Warsh’s first policy meeting as chair. The Federal Open Market Committee approved the decision unanimously, leaving rates unchanged for a fourth consecutive meeting. New projections showed nine Fed officials anticipated a rate increase by the end of 2026, while the median year-end federal funds projection rose to 3.8% from 3.4% in March. Fed policymakers cited inflation that remained above the c...